Corn futures on Thursday posted gains of 3 to 5 ½ cents in most contracts of the day, receiving indirect support from wheat and soybeans. CmdtyView’s national average cash corn price rose 3 3/4 cents to $3.98 3/4.
This morning’s export sales data showed a total of 2.07 million tonnes of corn sold in the week of February 5. That was almost double the previous week and 25.5% more than the same week last year. The largest buyer was Japan with 616,600 MT, with 336,800 MT sold to South Korea and 274,900 MT to Colombia. Sales for 2026/27 were 60,000 MT that week.
CONAB cut its estimate of the Brazilian corn crop by 0.42 MTM to 138.45 MTM this morning, as the second crop was reduced by 1.2 MTM. The Buenos Aires Grain Exchange estimates that Argentina’s corn harvest will be 43% good/excellent, 1% less than last week.
March 26 Corn closed at $4.31 1/4, up 3 3/4 cents.
Nearby cash was $3.98 3/4, up 3 3/4 cents,
On May 26, corn closed at $4.41 3/4, up 5 1/4 cents.
July 26 Corn closed at $4.49 3/4, up 5 1/2 cents.
As of the date of publication, Austin Schroeder had no (directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. This article was originally published on Barchart.com